DCG Missed $630 Million Genesis Debt Payment, Gemini Says (2)

Digital Currency Group, the owner of bankrupt crypto lender Genesis Global Capital LLC, failed to repay about $630 million of debt owed to its subsidiary by a mid-May deadline, according to one of Genesis’s major creditors.

Gemini Trust Co., which is locked in a court dispute with DCG over the money it’s owed by Genesis, announced DCG’s failure to repay the debt on its website on May 19.

Gemini, Genesis and two groups of creditors “are considering whether to provide a forbearance to DCG to avoid a DCG default,” the statement said. “Consideration will be based in ...